Succession planning for an unknown future

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Editor's note: Happy new year. It feels dark, I’ll admit, to speak of a topic so closely entwined with one’s death at a time when people seek new beginnings. That said, there is never really a good time to speak about wills and inheritances, so we might as well take it head-on as the year begins. The last two years have seen an unexplainable number of unexpected events, and I’ve spoken to more than a few young people who’ve been dealing with the double burden of not only coping with a loved one’s passing, but also having to unscramble their finances. The very idea of estate planning, after all, seems like an activity that’s reserved for those with, well, estates. The truth is that it’s applicable the moment you own anything. Here’s what you need to know about inheritance in India. Disclaimer: This is general advice, and is not to be misconstrued as personal legal advice. Make sure you consult a lawyer for specific clarifications. 1. Make a master folder of everything you own and share it with your closest relative: The …